05. Town Planning Report · MCU10/2127

Viridian Noosa Pty Ltd
Research Paper
Advisory

November 2010

Conclusion and Application of Key Findings

The findings of the research undertaken of comparable strata-titled resort properties to Viridian
Resort consistently indicate that the current level of permanently occupied dwellings in both the
strata-titled resort markets within Noosa and the broader east coast markets is low.

Given this, it could be argued that very few owners at Viridian Resort would permanently
occupy their dwelling — even if they could do so under revised zoning approvals. This point is
illustrated through Table 1, which has applied the percentages found in Sections 3 and 4, to the
38 units at Viridian Noosa Resort:

Table 1: Findings from market consultation applied to Viridian Noosa Resort Stock

 

 

Findings from market consultation applied to Ye Bia e clad
% of Stock % Applied to
Permanently Viridian Noosa
Occupied Resort (38 Units)
Noosa Resort Comparables 2.40% 0.91
Non-Noosa Resort Comparables 1.38% 0.62)
Noosa Resorts Most Comparable (Viridian Residences) 4.35% 1.65)
Non-Noosa Resort Most Comparables (Palazzo Versace & Sheraton Mirage) 6.35% 241

 

 

 

As can be seen from Table 1, if the permanently occupied percentages from the most
comparable resorts analysed in this report (Viridian Residences, Palazzo Versace and Sheraton
Mirage Gold Coast) are applied to the 38 units at Viridian Noosa Resort, it would suggest that
the maximum number of dwellings that would be permanently occupied would be 3.

10216437_1 - 17 November 2010 8

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